By the Fed., Inc. and Treasury. Each are actively soliciting through baby steps the ‘additional powers‘ they so crave. This is grand-standing by the very same people, all creatures of Wall Street, who now have slipped back in through the revolving door and for now hold regulatory posts (fox, meet henhouse) for this toothless regime, should make each of us very very suspicious.
Without actually acknowledging there is a problem per se, Turbo Timmeh Shitener thinks the solution is him and his cronies co-horts having more bigger, more faster, more and more power over more and more businesses, such as hedge funds and insurance (the states are supposed to regulate insurance, but the Fed was always stepping on their toes).
Yet where were the feds when Made-off was running his Ponzi scheme for FORTY FUCKING YEARS eh? SEC? In da house? No? Where the fuck are ye then?
SEC sock puppets got treated to a free seven-course lunch (who sez that don’t exist?) and all the coke they could snort and hookers they could screw, and gave Bernie and his merry band of Ponzis a pass until the next year. Rinse, lather, repeat. Times forty.
Sure, TT, *more power*, you stumbled upon the answer; Oh wait, I forgot the question. How do we stop this sort of thing from happening again?
Well, um, let’s see what happens when you cannot/do not know how to use the powers and tools already provided?
Yeah, thanks for that, TT. You are a *star*.
Meantime we’re supposed to be relieved and reassured that the next Even Greater Depression (GD3?) forty years hence will deffo not be happening.
Color me relieved! I can stop worrying now. Everyone, no need to worry anymore, the next GD ain’t never gonna happen! Whoopee!
C’mon. The regulator guys always had the tools. The just didn’t realize they weren’t supposed to be the tools.
“Finance should be the grease that keeps the engine going. Yet in our last decade, finance became the actual engine. That is the root of the problem. ” -Dr. Housing Bubble